Digital lending platform Moneyview has converted into a public company as it inches closer to its initial public offering.

The board of the NBFC -- which recently changed its name from Whizdm Innovations Private Limited to Moneyview Private Limited -- has passed a special resolution to convert itself into a public company 'Moneyview Limited', reported Entrackr.

The digital lender is eyeing an IPO to raise over $400 million (around Rs 3,400 crore) and has reportedly appointed Axis Capital, Kotak Mahindra, and others as its banking partners.

Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview has raised over $230 million till date from investors including Accel, Tiger Global, and Ribbit Capital. It hit the unicorn status last year in September after raising $4.6 million from Accel and Nexus Venture Partners.

For FY24, Moneyview's operating revenue jumped grew to Rs 1,012 crore from Rs 577 crore in FY23. The company also reported a profit of Rs 171 crore during FY24, against Rs 163 crore in FY23. At end-June 2024, the total assets under management (AUM) outstanding at Moneyview’s platform was Rs 13,460 crore, of which Rs 2,500 crore was on the Moneyview's NBFC books.